Dolah Bhd was incorporated on 1 April 2020 to acquire the business of Syarikat Sky from...
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Dolah Bhd was incorporated on 1 April 2020 to acquire the business of Syarikat Sky from 1 November 2019. Below is the Statement of Comprehensive Income of Dolah Bhd for the year ended 31 October 2020. (Dolah Bhd telah diperbadankan pada 1 April 2020 untuk mengambil alih perniagaan Syarikat Sky bermula 1 November 2019. Di bawah merupakan Penyata Pendapatan Komprehensif Dolah Bhd bagi tahun berakhir 31 Oktober 2020.) RM RM Sales (Jualan) 1,000,000 Opening inventory (Inventori awal) 35,000 Purchases (Belian) 520,000 555,000 Closing inventory (Inventori akhir) (55,000) Cost of sales (Kos jualan) (500,000) Gross profit (Untung kasar) 500,000 Rental income (Pendapatan sewa) 36,000 Expenses (Bolanja-belanja): Administrative (Pentadbiran) 60,000 Selling (Jualan) 150,000 Interest (Faedah) 21,000 Preliminary (Permulaan) 2,000 Directors' remunerations (Gaji pengarah) 15,000 Interim ordinary dividend (Dividen interim saham biasa) 37,000 (285,000) Net profit (Untung bersih) 251,000 Notes (Nota-nota): i. Sales for the first five months of the financial year are two fifths of the total sales for the year 2020. Gross profit margin is constant during the year. (Jualan untuk lima bulan pertama dalam tahun kewangan adalah dua per lima daripada jumlah jualan bagi tahun 2020. Margin untung kasar adalah konstan sepanjang tahun.) Of the interest expense, RM12,000 relate to interest paid to the supplier of Syarikat Sky for late settlement. It was settled on 1 May 2020. Another RM4,000 interest is on a bank loan taken out 1 January 2020. (Bagi belanja faedah, RM12,000 berkaitan dengan faedah dibayar kepada pembekal Syarikat Sky bagi pembayaran lewat. lanya dijelaskan pada 1 Mei 2020. RM4,000 faedah yang lain adalah faedah atas pinjaman bank yang dibuat pada 1 Januari 2020.) ii. Selling expenses include RM5,000 of bad debts, RM2,000 being bad debts on account of debtors taken over from the Syarikat Sky and RM3,000 in respect of goods sold in September 2020. (Belanja jualan termasuk RM5,000 hutang lapuk, RM2,000 merupakan hutang lapuk daripada penghutang yang diambil alih daripada Syarikat Sky dan RM3,000 berkaitan barang yang djual dalam September 2020.) iv. Rental income for period of 1 January 2020 to 31 December 2020. (Pendapatan sewa adalah untuk tempoh 1 Januari 2020 sehingga 31 Disember 2020.) Required: (Dikehendaki:) a. Prepare a worksheet in column to determine the pre-incorporation and post-incorporation profits. (Sediakan helaian kerja berkolum dalam menentukan untung pra perbadanan dan selepas perbadanan.) (15 m) b. Prepare a statement of comprehensive income for the year ended 31 October 2020. (Sediakan penyata pendapatan komprehensif bagi tahun berakhir 31 Oktober 2020.) (8 m) c. Prepare journal entry to record the pre-incorporation profit/loss. (Sediakan catatan jurnal untuk merekod untung/rugi sebelum perbadanan.) (2 m) Dolah Bhd was incorporated on 1 April 2020 to acquire the business of Syarikat Sky from 1 November 2019. Below is the Statement of Comprehensive Income of Dolah Bhd for the year ended 31 October 2020. (Dolah Bhd telah diperbadankan pada 1 April 2020 untuk mengambil alih perniagaan Syarikat Sky bermula 1 November 2019. Di bawah merupakan Penyata Pendapatan Komprehensif Dolah Bhd bagi tahun berakhir 31 Oktober 2020.) RM RM Sales (Jualan) 1,000,000 Opening inventory (Inventori awal) 35,000 Purchases (Belian) 520,000 555,000 Closing inventory (Inventori akhir) (55,000) Cost of sales (Kos jualan) (500,000) Gross profit (Untung kasar) 500,000 Rental income (Pendapatan sewa) 36,000 Expenses (Bolanja-belanja): Administrative (Pentadbiran) 60,000 Selling (Jualan) 150,000 Interest (Faedah) 21,000 Preliminary (Permulaan) 2,000 Directors' remunerations (Gaji pengarah) 15,000 Interim ordinary dividend (Dividen interim saham biasa) 37,000 (285,000) Net profit (Untung bersih) 251,000 Notes (Nota-nota): i. Sales for the first five months of the financial year are two fifths of the total sales for the year 2020. Gross profit margin is constant during the year. (Jualan untuk lima bulan pertama dalam tahun kewangan adalah dua per lima daripada jumlah jualan bagi tahun 2020. Margin untung kasar adalah konstan sepanjang tahun.) Of the interest expense, RM12,000 relate to interest paid to the supplier of Syarikat Sky for late settlement. It was settled on 1 May 2020. Another RM4,000 interest is on a bank loan taken out 1 January 2020. (Bagi belanja faedah, RM12,000 berkaitan dengan faedah dibayar kepada pembekal Syarikat Sky bagi pembayaran lewat. lanya dijelaskan pada 1 Mei 2020. RM4,000 faedah yang lain adalah faedah atas pinjaman bank yang dibuat pada 1 Januari 2020.) ii. Selling expenses include RM5,000 of bad debts, RM2,000 being bad debts on account of debtors taken over from the Syarikat Sky and RM3,000 in respect of goods sold in September 2020. (Belanja jualan termasuk RM5,000 hutang lapuk, RM2,000 merupakan hutang lapuk daripada penghutang yang diambil alih daripada Syarikat Sky dan RM3,000 berkaitan barang yang djual dalam September 2020.) iv. Rental income for period of 1 January 2020 to 31 December 2020. (Pendapatan sewa adalah untuk tempoh 1 Januari 2020 sehingga 31 Disember 2020.) Required: (Dikehendaki:) a. Prepare a worksheet in column to determine the pre-incorporation and post-incorporation profits. (Sediakan helaian kerja berkolum dalam menentukan untung pra perbadanan dan selepas perbadanan.) (15 m) b. Prepare a statement of comprehensive income for the year ended 31 October 2020. (Sediakan penyata pendapatan komprehensif bagi tahun berakhir 31 Oktober 2020.) (8 m) c. Prepare journal entry to record the pre-incorporation profit/loss. (Sediakan catatan jurnal untuk merekod untung/rugi sebelum perbadanan.) (2 m)
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Related Book For
International Financial Reporting A Practical Guide
ISBN: 978-1292200743
6th edition
Authors: Alan Melville
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